WORLDWIDE RENEWABLE ENERGY INVESTMENT HITS RECORD HIGH

07/11/2011

Chinese wind farms and European rooftop solar panels helped increase global renewable energy investment by 32 percent in 2010 to reach $211 billion, a UN study reported last week. Additionally, developing nations invested more in renewable power than developed nations for the first time, passing the total of developed nations at $70 billion by $2 billion. China topped the list with almost $49 billion in spending, while the Middle East and Africa increased spending by 104 percent to $5 billion. While funding for large scale projects in Europe fell 22 percent to $35 billion, small scale projects have received increased funding. In North America, Ontario announced that a program of incentives for energy projects has resulted in commitments of C$20 billion since 2009. The figure includes a C$7 billion commitment from Samsung C&T, and comprises agreements with producers under the province's feed-in tariff plan. For the full story, see http://www.bbc.co.uk/news/science-environment-14030849. For the story on Ontario's plan, see http://www.reuters.com/article/2011/07/07/us-energy-ontario-idUSTRE7665S320110707.